Prosperna, C Estates talk real estate tech revolution

Real estate tech companies Prosperna and C Estates partnered in an event which focused on technologies that could potentially disrupt the real estate industry in Social House, Makati City Tuesday.

This event drew a mixed crowd of real estate experts, newcomers, brokers, and tech enthusiasts who wanted to know the latest systems and applications that can further expand real estate business.

Topics discussed included the use of real estate tech for better customer relationship management (CRM), artificial intelligence (AI), and how blockchain technology in the real estate sector.

Future is here
Prosperna CEO Dennis Velasco underlined the need to be ahead of the curve amid unstoppable advancements.

“Technology is changing the world, how we live, and how we work,” Velasco said.

Widespread use of AI is one big thing he foresees in the next three years. According to Velasco, if the country invests in better data collection, faster internet services, and people who can work the algorithms, extensive AI use will no longer be a question of if but when.

Revolutionizing real estate industry
This is where Velasco’s real estate tech company comes in. Providing pragmatic CRM solutions, real estate tech company Prosperna is poised to be the first Filipino firm to develop an AI-powered CRM platform.

While Velasco has yet to announce the target date when this upgraded platform will be available to the public, he confirmed that it is currently in the works. More updates about what he calls “Prosperna 2.0” will be released soon.

One-stop shop for real estate services
C Estates, for its part, showed how its platform allows seamless transactions by being a real estate business one stop shop. It provides a whole host of services including buying and selling of properties, confirming notarization, and validating ownership and documents.

While these services are offered by other real estate firms, there are two things that set this real estate tech company apart. As stated by C Estates Senior Sales and Marketing Manager Jay Bonn Agbulos, the platform supports tokenization and utilizes blockchain technology.

Tokenizing real estate assets
Through blockchain technology, major transactions are now possible without going through intermediaries like banks, credit card service companies, and governments, which often result to slow, expensive, and illiquid transactions.

Tokenization, Agbulos said, changes physical form to virtual such as buying a property with virtual currency. Blockchain technology, on the other hand, will be used as a “registry of data footprints and activity logs and a multi-layered security algorithm for reputation management in peer-to-peer networks.”

Accessible investment
Real estate business in the Philippines is thriving, yet the majority of Filipinos are unable to invest in real estate due to its extremely high initial investment.

C Estates aspires to change this and pave way for those who would like to invest in real estate but are not considered wealthy and do not have the luxury to wait for years to liquidate.

More events dedicated to real estate tech are in the pipeline, according to Prosperna. Exact details will be released soon.